Employee Experience, Training, and Organizational Inclusion

Employee retention is vital to the success of every Canadian small business. When talented employees leave, it disrupts operations and hurts productivity—seriously affecting the bottom line. That's why proactive retention strategies are key to nurturing an engaged, thriving workforce. Here's what they are and how to implement them.

Today, organizational leaders must develop a collaborative leadership culture that facilitates employee engagement if they expect to achieve institutional goals and objectives. Commercial banks are no different, especially in the credit environment they now face. In the post-global financial crisis economy, alleviating financial threats is critical to preventing financial losses. HR and credit administrators must work collaboratively to ensure bankers get proper training to avert financial losses. But, all bank employees must work as a team and understand the key role they each play in creating a culture that reduces credit risk, increasing customer satisfaction and retention and encouraging a positive employee experience across the institution. In this 2016 blog post, I showed bank leaders how to implement strategies that facilitate a collaborative leadership culture. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Radission US on Unsplash

The last decade in the banking industry has been challenging. The US economy has rebounded, however, and consumers are getting more products and services from banks. Banks remain overwhelmed by the aftershocks of the economic meltdown. Post-crisis, many financial institutions still are working through costly legal outcomes related to poorly structured lending policies and the resulting wave of federal regulation enacted to prevent future financial collapses. Banks are facing increased costs both for complying with and violating new credit regulations designed to protect consumers. But credit risk training can reduce those costs, while increasing customer trust, and this 2016 blog post showed banking leaders how. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Edmond Dantes on Pexels

In this 2016 blog post, I showed senior banking leaders how banks can manage the regulatory environment while helping prevent future meltdowns by taking steps today to address rising credit risk. One critical way to confront credit risk is through investing in ongoing, robust credit risk training for bankers. While some banks are cutting back on this training, this blog post showed why it’s not advisable as both regulation and risk grow. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Robb Miller on Unsplash

Determined to increase sales and market share, banks continue to focus on external communications. They develop marketing and corporate communications strategies designed to reach target audiences and convert them to bank customers. Undoubtedly, developing strong external communications programs to reach audiences continues to be critical to bank revenue growth. However, recent events in the lending community that led to significant losses show that attention to internal communications is crucial. That helps maintain information sharing across the organization at all levels and reduces risk of losses to a bank because of mistakes, failure to understand and apply regulations, or fraud. In this 2016 blog post, I showed bank leaders why internal communications are essential for preventing losses from making risky credit decisions. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Kampus Production on Pexels

Senior executives in the banking industry are retiring, and banks are hard-pressed to replace them. Intensifying the problem is the fact that during the Great Recession, financial institutions hired fewer bankers in their mid-30s and 40s. Artificial intelligence (AI) has eliminated some banking tasks in recent years, causing bank hiring managers to believe that they could hire fewer professionals to address credit risk. However, human-driven credit risk is more sophisticated than the AI technology designed to find and mitigate it, so banks must hire employees specializing in credit risk and train them to do effectively do what AI can't. Training is a primary method for retaining the newest generation of credit risk professionals, too. This 2016 blog post provided insights to bank leaders about its importance. (**This is a blog post I pitched, researched, and wrote for then-40-year-old banking industry consultant, Omega Performance, which provides credit risk training to banks. Moody's Analytics now owns Omega Performance.) Image: Christina @ wocintechchat.com on Pexels

Tim Mulligan reshaped the venerable San Diego zoo from a place employees hated to work to one where its workers are more focused, healthy and engaged. Today, as the zoo celebrates its 100th anniversary, it does so in an award-winning environment that’s more profitable than ever. In this Q&A, he tells you how to achieve the same results for your organization. (Printed in "HR Magazine.")